Starting Dynare (version 6.1).
Calling Dynare with arguments: none
Starting preprocessing of the model file ...
WARNING: M15hr.mod:197.1-32: Symbol y declared twice.
WARNING: M15hr.mod:197.1-32: Symbol c declared twice.
WARNING: M15hr.mod:197.1-32: Symbol k declared twice.
WARNING: M15hr.mod:197.1-32: Symbol i declared twice.
WARNING: M15hr.mod:197.1-32: Symbol n declared twice.
WARNING: M15hr.mod:197.1-32: Symbol y_n declared twice.
WARNING: M15hr.mod:197.1-32: Symbol z declared twice.
WARNING: M15hr.mod:197.1-32: Symbol r declared twice.
WARNING: M15hr.mod:197.1-32: Symbol w declared twice.
WARNING: M15hr.mod:197.1-32: Symbol sigma_c declared twice.
Found 10 equation(s).
Evaluating expressions...
Computing static model derivatives (order 1).
Normalizing the static model...
Finding the optimal block decomposition of the static model...
3 block(s) found:
  2 recursive block(s) and 1 simultaneous block(s).
  the largest simultaneous block has 6 equation(s)
                                 and 6 feedback variable(s).
Computing dynamic model derivatives (order 3).
Normalizing the dynamic model...
Finding the optimal block decomposition of the dynamic model...
3 block(s) found:
  2 recursive block(s) and 1 simultaneous block(s).
  the largest simultaneous block has 6 equation(s)
                                 and 6 feedback variable(s).
Preprocessing completed.
Preprocessing time: 0h00m00s.

STEADY-STATE RESULTS:

y       		 1.20316
c       		 0.916844
k       		 14.316
i       		 0.28632
n       		 0.298784
y_n     		 4.02687
z       		 0
r       		 0.0102556
w       		 2.57719
sigma_c 		 1.5

EIGENVALUES:
         Modulus             Real        Imaginary
            0.95             0.95                0
          0.9553           0.9553                0
           1.057            1.057                0
        2.58e+15        -2.58e+15                0
             Inf              Inf                0

There are 3 eigenvalue(s) larger than 1 in modulus for 3 forward-looking variable(s)
The rank condition is verified.


MODEL SUMMARY

  Number of variables:         10
  Number of stochastic shocks: 1
  Number of state variables:   2
  Number of jumpers:           3
  Number of static variables:  5


MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS
Variables         e_z
e_z          0.000049



MOMENTS OF SIMULATED VARIABLES
VARIABLE              MEAN       STD. DEV.        VARIANCE        SKEWNESS        KURTOSIS
y                 1.195980        0.045439        0.002065       -0.113269        0.223435
c                 0.911892        0.019343        0.000374       -0.207281        0.255272
k                14.188830        0.470920        0.221766        0.040114        0.137473
i                 0.284088        0.030508        0.000931       -0.023633        0.088607
n                 0.298464        0.007375        0.000054       -0.143582       -0.052963
y_n               4.006580        0.095120        0.009048        0.168137        0.183048
r                 0.010424        0.000822        0.000001        0.134504        0.157281
w                 2.569961        0.039008        0.001522        0.000164        0.109954
sigma_c           1.489224        0.068159        0.004646       -0.113269        0.223435


CORRELATION OF SIMULATED VARIABLES
VARIABLE          y        c        k        i        n      y_n        r        w  sigma_c
y            1.0000   0.8579   0.6223   0.9455   0.7945   0.7767   0.0161  -0.0158   1.0000
c            0.8579   1.0000   0.9346   0.6438   0.3749   0.9863  -0.4964   0.4969   0.8579
k            0.6223   0.9346   1.0000   0.3343   0.0215   0.9753  -0.7717   0.7724   0.6223
i            0.9455   0.6438   0.3343   1.0000   0.9456   0.5315   0.3387  -0.3386   0.9455
n            0.7945   0.3749   0.0215   0.9456   1.0000   0.2349   0.6182  -0.6180   0.7945
y_n          0.7767   0.9863   0.9753   0.5315   0.2349   1.0000  -0.6161   0.6168   0.7767
r            0.0161  -0.4964  -0.7717   0.3387   0.6182  -0.6161   1.0000  -0.9995   0.0161
w           -0.0158   0.4969   0.7724  -0.3386  -0.6180   0.6168  -0.9995   1.0000  -0.0158
sigma_c      1.0000   0.8579   0.6223   0.9455   0.7945   0.7767   0.0161  -0.0158   1.0000


AUTOCORRELATION OF SIMULATED VARIABLES
VARIABLE         1       2       3       4       5
y           0.9270  0.8561  0.7907  0.7320  0.6756
c           0.9818  0.9619  0.9406  0.9188  0.8959
k           0.9976  0.9922  0.9838  0.9728  0.9595
i           0.8976  0.7993  0.7105  0.6319  0.5573
n           0.8893  0.7837  0.6872  0.6027  0.5239
y_n         0.9907  0.9788  0.9649  0.9492  0.9316
r           0.9574  0.9149  0.8738  0.8355  0.7980
w           0.9574  0.9151  0.8742  0.8361  0.7985
sigma_c     0.9270  0.8561  0.7907  0.7320  0.6756
Total computing time : 0h00m06s
Note: 10 warning(s) encountered in the preprocessor
